Dow Jones declines, eyes on US employment data 4/11/2022

The Dow Jones Industrial Average achieved noticeable losses on Wall Street yesterday, within the expected negative outlook, touching the official bearish target required to achieve 31,730, recording its lowest price at 31,710.

Technically, the simple moving average is still pressing on the price, and we find that the RSI is stable below the 50 mid-line on the 60-minute time frame, in addition to the intraday stability below 32,155.

The bearish bias may be the most likely intraday, targeting 31,710 first target, considering that breaking the mentioned level increases and accelerates the strength of the daily bearish trend, so we are waiting for touching 31,450 as long as the price is stable in general below 32,245.

Note: Employment data, Unemployment rate and average wages are due today in the USA and they have a high impact, and we may witness price fluctuations at the time of the news release.

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 31710	R1: 32245
S2: 31445	R2: 32510
S3: 31180	R3: 32770